The global electric traction motor market is expected to grow at a CAGR of 18.10% from 2018 to 2023 to reach a market size of USD 28.51 billion by 2023. The increasing demand for carbon emission-free vehicles, increasing transportation system efficiency, and the need for reducing air pollution are expected to drive the electric traction motor market during the forecast period. ... Read more
Traction means producing frictional force between two surfaces without slipping and this can be produced electrically or non-electrically. Electric traction motor is an electric motor which is used for ... Read more
The global electric traction motor market’s 2020 profit rose as it is anticipated to expand at a CAGR of 18.08% through the forecast period 2018–2023. Market Research Future has published the reports.
Top Market Drivers & Challenges
The salient factor leading the global electric traction motor market is the continuous increase in investment in railways. The factor is demanding electric ... Read more
Electric traction motor is a type of electric motor which is used for propulsion of a vehicle. It is used in electrically powered rail vehicles such as electric multiple units and electric locomotives. Furthermore, traction motor is installed in fully hybrid and battery electric vehicles. The global electric traction motor market is expected to grow at 18.08% CAGR during the forecast period.
